The Court of Appeal, sitting in Lagos, yesterday, reserved judgment in an appeal by an Indian businessman, Ashok Israni, and two officials of Keystone Bank, Anayo Nwosu and Olajide Oshodi, against their conviction over an N855 million fraud.
The appellate court had, in May, reserved judgment in the appeal, after lawyers to all parties argued and adopted their processes.
But the appeal suffered a setback following the death of one of the members of the special panel of the Appeal Court, Justice Joseph Ikyegh, set up to handle the case.
Based on the development, the case was reheard by the regular three-person court panel led by Justice Olukayode Bada.
Recall that Justice Kudirat Jose of a Lagos State High Court sitting in Igbosere, had, on December 9, 2019, jailed Israni, Nwosu and Oshodi on an amended 15-count charge of conspiracy and obtaining money by false pretence.
The judge had sentenced them to five years imprisonment each for stealing.
Justice Jose had also convicted a company, NULEC Industries Limited, belonging to Israni and Keystone Bank Limited, in her judgment.
The company and the bank were also ordered to pay a fine of N20 million to the Federal Government on counts one, 10 and 13.
But four months after their conviction, they were released from prison by officials of Kirikiri prison, allegedly on the directive of the Lagos State Government, despite the pendency of their appeals before the appellate court.
At the appeal hearing, the Economic and Financial Crimes Commission, EFCC, adopted its brief of argument dated April 27, 2023.
It argued that there were several legal authorities to the effect that pardon cannot be granted to convicts whose rights of appeal have not been exhausted.
It further submitted that many legal authorities affirmed that a pardon could not be granted to convicts whose appeal rights have not been exhausted.
***
You can visit us for more news at: thenewsdesk.ng
